Outcome of Board Meeting

22nd October 2026 To, To, BSE Limited National Stock Exchange of India Limited Floor 25, P J Towers, Dalal Street Exchange Plaza, Bandra Kurla Complex Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 513519 Scrip Code: PITTIENG Dear Sirs, Sub: Outcome of Board Meeting We wish to inform you that the Board of Directors of the Company at its meeting held today i.e. 22nd October 2026 has inter alia: 1. Approved the un-audited financial results of the Company for the quarter and half-year ended 30th September 2026. Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015. 2. Declared an interim dividend of ₹ 2/- (40%) per equity share of face value of ₹ 5/- each for the financial year 2026-27. 3. Fixed record date as Monday, 2nd November 2026 for the purpose of payment of interim dividend for the financial year 2026-27. The interim dividend shall be paid on or before 21st November 2026, to the equity shareholders of the Company, whose names appear on the register of members of the Company or in the records of the depositories as beneficial owners of the shares as on 2nd November 2026 which is the record date fixed for the purpose. 4. Approved a capex of ₹450 crores to increase manufacturing capacities and value-addition capabilities and consolidate the Company's fragmented lamination manufacturing operations in Karnataka into a single integrated manufacturing facility. The project is proposed to be implemented in phases up to FY 2030-31. 5. Noted the second grant of 5,77,500 employee stock options under the ‘Pitti Engineering Limited Employees Stock Option Scheme 2024 (“Pitti ESOP Scheme 2024” or “Scheme”) at the exercise price of ₹ 736.72 to the eligible employees of the Company made by the Nomination and Remuneration Committee at its meeting held on 22nd October 2026. 6. Re-designation of Senior Management Personnel and Appointment of Deputy Chief Operating Officer The Board of Directors has approved the re-designation of the following Senior Management Personnel of the Company, with effect from 22nd October 2026: Name Current Designation New Designation Shri Sandip Agarwala COO – Motor & Generator Deputy Chief Executive Officer C omponents Business Shri Chaitra Sundaresh Deputy Chief Operating Officer COO – Motor & Generator C omponents Business The Board has also approved the promotion of Shri Avinash Arun Patil from President – Maharashtra Operations to Deputy Chief Operating Officer of the Company, with effect from 22nd October 2026. Consequent to such promotion, Shri Avinash Arun Patil shall form part of the Senior Management Personnel of the Company in terms of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The relevant details as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 as updated on 30th January 2026 for item no. 4 to 6 above are attached as Annexure 1 to 3 respectively. The meeting of the Board of Directors of the Company commenced at 4:30 PM and concluded at 5:10 PM. Kindly take the same on record. Thanking you, Yours faithfully, For Pitti Engineering Limited Mary Monica Braganza Company Secretary & Chief Compliance Officer FCS: 5532 Annexure - 1 Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 as updated on 30th January 2026. 1. Approved capital expenditure and capacity expansion Sno Particulars Details a) Existing capacity The current consolidated installed capacity for sheet metal (lamination) is 1,08,000 MT per annum and for machining hours is 8,13,600 with an approved expansion currently underway to enhance machining capacity to 10,80,000 machining hours by Q1 2029-30. b) Existing capacity utilization The current capacity utilisation stands at ~ 78% for sheet metal and ~ 85% for machining. c) Proposed capacity addition Particulars Existing On-going Post (Per annum) Capacity as Capacity Proposed on addition to be Capacity 30-Sep-2026 completed by Q1 2029-30 Sheet Metal (MT) 1,08,000 NA 1,60,000 Machine Hours 8,13,600 10,80,000 13,14,000 d) Period within which the proposed The project is proposed to be implemented in phases up to FY 2030-31. capacity is to be added e) Investment required Estimated project cost is ₹ 450 crores f) Mode of financing Internal accruals and Debt g) Rationale The Company is witnessing sustained growth in demand across key sectors, including mining and off-highway vehicles, power generation (including thermal, hydro, pumped storage and wind energy), data centres, railways and metro infrastructure. In order to support the anticipated growth in business volumes, strengthen its manufacturing capabilities and enhance value addition, the Company proposes to undertake capacity expansion across its facilities and consolidate its presently fragmented lamination manufacturing operations in Karnataka into a single integrated manufacturing facility. The project is expected to increase capacities, improve operational efficiencies, optimise costs and support future growth. Annexure - 2 2. Second grant of 5,77,500 employee stock options S.No Particulars Disclosure Details a) Brief details of options granted The Nomination and Remuneration Committee has approved the grant of 5,77,500 employee stock options to the eligible employees under the Pitti ESOP 2024 – Grant 2 at the exercise price of ₹ 736.72 to the eligible employees of the Company out of the shareholder approved limit of 13,00,000 options. b) Whether the scheme is in terms of SEBI (Share Yes Based Employee Benefits and Sweat Equity) R egulations, 2021 c) Total number of shares covered by these options 5,77,500 equity shares of ₹ 5/- each of the Company. Each option carries the right to apply for and be allotted one equity share of face value of ₹ 5/- each of the Company. d) Pricing formula The Exercise Price shall be decided by the Board or Nomination and Remuneration Committee as is allowed under the Companies Act and SEBI Regulations. The Nomination and Remuneration Committee has approved an Exercise Price of ₹ 736.72 per Option for the second grant under the ESOP Scheme, being the same Exercise Price approved for the first grant. The Committee considered it appropriate to maintain consistency and equitable treatment across grants, particularly in view of the fact that the prevailing market price of the Company's equity shares remains broadly comparable to that at the time of the first grant. Accordingly, the approved Exercise Price represents a discount of 23.03% to the closing market price of ₹ 957.20 per equity share on the National Stock Exchange of India Limited which recorded the highest trading volumes in the equity shares of the Company on Wednesday 21st October 2026, i.e., being the previous trading day immediately preceding the date on which the grant of options has been approved. e) Options vested Not Applicable, as this outcome is pertaining to grant of Options f) Options exercised under the Scheme. g) Money realized by exercise of options h) Total number of shares arising as a result of exercise of option i) Options lapsed j) Variation of terms of options S.No Particulars Disclosure Details k) Brief details of significant terms The Scheme will be implemented and administered through trust route wherein a trust can either acquire the equity shares of the Company by way of secondary acquisition or the Company will issue shares to the Trust in accordance with the Scheme. Upon a valid exercise of a vested option by a participant, each vested option will entitle the participant to one equity share of the Company. There shall be a minimum period of one year between grant of options and vesting of options. Every grant of options shall be governed by a vesting schedule and such other terms, as determined by the [Showing first 8,000 characters — download PDF for full document]